Qualifying for the Economic Hardship Deferment is not all of that difficult, and is essentially the most popular regarding the deferment kinds, because it’s not too difficult to prove.
Economic hardship deferments continue for a time period of one 12 months at any given time, and so are readily available for a optimum of 36 months as a whole.
Then you will automatically qualify for a student loan deferment for economic hardship if you can provide supporting documentation for one of the following categories:
- Previous Qualification – If you’ve currently qualified for an financial difficulty deferment under another federal loan system, then merely supplying that proof will qualify you for the financial hardship education loan deferment
- Receipt of Federal or State Public Assistance Benefits – then you’ll qualify for an economic hardship deferment if you’re receiving payments under any federal or state public assistance programs, like SSI, TANF, Food Stamps, etc., and you can prove it
- Peace Corps Volunteers – that you’re working as a Peace Corps volunteer, you’ll automatically qualify for an economic hardship deferment if you can prove